Biotech Values

[bladerunner1717]

More on the Leerink upgrade of ARRY--price target $8.00


http://www.streetinsider.com/Upgrades/Le...

"UPDATE: Leerink Swann Upgrades Array BioPharma (ARRY) to Outperform; Exciting Data Help Leverage to MEK Inhibitors"

Leerink Swann upgraded Array BioPharma (NASDAQ: ARRY) from Market Perform to Outperform. PT raised from $4 to $8.

Analyst, Gena Wang, said, "With two partnered programs (with AstraZeneca (NYSE: AZN) (MP-rated) and Novartis (NYSE: NVS) (OP-rated)) and 4 clinical candidates, ARRY could be the most leveraged to the theme of MEK inhibitors. We increase our valuation from $4 to $8 to reflect a higher probability of success for selumetinib in NSCLC (from 30% to 65%) and the inclusion of probability-weighted MEK162 sales in NRAS melanoma, based on recent promising Phase II data for both programs."


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